New Jersey Senate Resolution 47 urges President Biden to cancel up to $50,000 per eligible borrower in federal student loan debts.

New Jersey Senate Resolution 47 urges President Biden to use executive action to cancel up to $50,000 per eligible borrower in federal student loan debts. The resolution highlights the significant burden of student loan debt on nearly 43 million Americans, totaling approximately $1.6 trillion. It argues that debt cancellation would provide financial relief, prevent defaults, and stimulate the economy by enabling borrowers to purchase homes, start families, and participate fully in the economy.

New Jersey Senate Resolution 47 urges President Biden to cancel up to $50,000 per eligible borrower in federal student loan debts.

New Jersey Senate Resolution 47 urges President Biden to use executive action to cancel up to $50,000 per eligible borrower in federal student loan debts. The resolution highlights the significant burden of student loan debt on nearly 43 million Americans, totaling approximately $1.6 trillion. It argues that debt cancellation would provide financial relief, prevent defaults, and stimulate the economy by enabling borrowers to purchase homes, start families, and participate fully in the economy.